IMF committed to protecting poor countries from war-driven inflation

International Monetary Fund (IMF) chief Kristalina Georgieva has said it is the Fund's responsibility to help low-income countries suffering from inflation and an energy crisis following the Iran war.

She expressed this view on Saturday at the conclusion of the annual meeting held in Bangkok, Thailand. According to Georgieva, Asia's economic dynamism, the resilience of the global economy, and the potential of artificial intelligence (AI) have raised hopes. However, inflation, heavy debt, war and climate risks remain the main causes for concern.

After the United States and Israel waged war against Iran, rising oil and gas prices in international markets have further fueled inflation in many countries. According to the IMF, the impact has been greatest on low-income countries that depend on oil imports. Georgieva compared inflation to a tax imposed on the poor.